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TechnipFMC planned separation delayed by coronavirus

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LNG Industry,

TechnipFMC has provides an update on its planned separation.

The company statement read as follows:

“Market conditions have changed materially due to the COVID-19 pandemic, the sharp decline in commodity prices, and the heightened volatility in global equity markets. The impacts of these events have created a market environment that is not currently conducive to the company’s planned separation into TechnipFMC and Technip Energies.

“The company reiterates that the strategic rationale for the separation remains unchanged. The company is committed to the transaction and continues its preparations to ensure that the two companies are ready for separation when the markets sufficiently recover.”

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